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Darden Restaurants Olive Garden

Board members replaced

10 Oct, 2014

Shareholders at Darden Restaurants, parent company of Olive Garden, vote to replace all current board members with those suggested by the investment firm Starboard Value. Darden reports a $19.3 million loss last quarter, with Olive Garden accounting for most of the loss. Starboard suggests serving breadsticks in smaller batches to maintain their freshness, as well as encouraging the purchase of alcohol as ways for the company to boost sales. Jeff Smith, CEO of Starboard:

Darden has all the right ingredients to regain the strength and prominence it once enjoyed. We look forward to continuing our hard work from inside the boardroom and working with management on a shared goal of excellence for Darden.

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